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COMMITMENTS AND CONTINGENCIES
12 Months Ended
Jan. 03, 2020
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COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
As of January 3, 2020, the Company had $56.1 million in outstanding letters of credit and guarantees.
From time to time, Anixter is party to legal proceedings and matters that arise in the ordinary course of business. As of January 3, 2020, the Company does not believe there is a reasonable possibility that any material loss exceeding the amounts already recognized for these proceedings and matters has been incurred. However, the ultimate resolutions of these proceedings and matters are inherently unpredictable. As such, the Company's financial condition and results of operations could be adversely affected in any particular period by the unfavorable resolution of one or more of these proceedings or matters.